Money Moral Dilemma: Who should I pay back first?

Oakie

Keep everyone sweet and pay back a portion to all three,only you can decide the ratio.But I would think £150 to Granny £150 to your brother and £200 to the bank.You will still be in debt but you will showing goodwill.!

Fujiko

Piggywiggy wrote: »

Don't borrow the money in the first place!

Couldn't agree more! I sometimes think MSE encourages people to borrow by quoting the best deals, but if you are really so short of money you should not be borrowing, I assume interest free, from family or friends. Take out a loan on which you have to pay interest and when you see how much extra you have to pay back perhaps that will encourage to be a bit more responsible. What did you borrow the money for? You should learn to live within your means and if you can't afford something don't have it. Remember the old-fashioned idea of saving up for something you wanted?

Who should you pay back first? I fancy grandmothers may be more indulgent than brothers, but that doesn't mean you should not pay her back first, although the next best thing would be to pay each half.

System

I'd say pay back the person who suffered the most hardship for lending it.

PasturesNew

Granny - she'll feel the warm glow of love as she knows she's been able to help you - and you've paid her back, thus proving to her that she is important to you.

Brother won't care a t0ss and will probably immediately spend it on a couple of gadgets and more beer.

Rest are faceless institutes.

Barryfan

Who do you think needs the money paid back more? Of course, you could try asking your brother and your gran, you obviously spoke to them earlier to ask them to lend you the money!!

lilhal

I agree with a bit to all, but why not ask gran and brother first...i.e. you could pay each of them £100 and then £200 to you card keeping £100 as a safety net.
at least that way you show willing to gran and brother...


However - going forward, budget better !

happyinflorida

Why are you asking us and not your brother and grandma first?!

geerex

Your brother.
With any luck, grandma will pop her clogs before she needs the cash, plus your brother is probably more likely / able to beat you up for it.

ollybass

The vital question is "How much money do you have at your disposal to pay back all these people"? You don't say.
Pay off the debts with the highest interest rates first, then (if you still have the money) pay off the highest figure, then the next highest etc

ajr77

Pay Granny. Then you'll only have 2 creditors rather than 3.